Medical Radiation Detection, Monitoring, & Safety Market To Generate Revenue worth $4,373.8 Million by 2030

The medical radiation detection, monitoring, & safety market generated revenue of $2,140.8 million in 2021, and the market size will advance at a CAGR of 8.3% during 2021–2030, to reach $4,373.8 million by 2030. This can be ascribed to the high frequency of cancer diagnosis, rapidly rising geriatric population, increasing number of radio diagnostic procedures, and surging adoption of radiation therapy.

Detectors Category To Witness Fastest Growth

Due to an increase in the need for radiation detection and monitoring technologies, to protect individuals from hazardous radiation, the detectors category is predicted to have the highest CAGR, of around 9%, from 2021 to 2030.

Moreover, the number of diagnostic imaging facilities that require medical radiation detectors to event excessive radiation exposure has greatly expanded. The rising awareness about the dangers of radiation overexposure, as well as the increasing adoption of medical insurance, would drive the expansion of the market during the coming period.

The increasing use of conventional and nuclear radiation for treatment and diagnosis is predicted to drive the global sales of medical radiation shielding equipment in the future. The number of diagnostic imaging facilities has increased dramatically in recent years, as the frequency of chronic illnesses, such as cancer, has risen. Consequently, this is augmenting the radiation detection, monitoring, & safety market size globally.

APAC Market To Undergo Substantial Growth

Geographically, the APAC region will show substantial growth in the market over the forecast period. Radiation-based systems, including X-ray machines and X-ray diffraction equipment, are used at a number of hospitals and diagnostic facilities around the region. Many handle advanced treatment techniques that pose a high danger of exposure to high doses of radiation.

As a result, for maximum safety, radiation detection and monitoring equipment are provided by medical radiation detection, monitoring, and safety market players for real-time dosimetry. All of these elements contribute to medical radiation detection, monitoring, & safety solution adoption throughout the region.

Acquisitions Are Most-Effective Strategic Measure

Players in the market have been involved in acquisitions to remain competitive. For instance, in January 2021, MediDrapes, a company that provides disposable protective drapes for use with medical imaging equipment, including fluoroscopes, mini-C-arms, and ultrasound machines, was acquired by Infab LLC.

Furthermore, in December 2020, Mirion Technologies’ dosimetry services division completed the acquisition of Dosimetrics GmbH to offer OSL personal radiation dosimeters and related solutions, such as erasers, readers, software, automation systems, and accessories.

Some of the major players operating in the global medical radiation detection, monitoring, & safety market are Mirion Technologies Inc., Thermo Fisher Scientific Inc., Ludlum Measurements Inc., IBA Worldwide, AliMed Inc., AmRay Group, Radiation Detection Company (RDC) Inc., Arrow-Tech Inc.